Best Auto Insurance San Antonio | Cheap Car Insurance Coverage

How Risk Factors Affect Your Auto Insurance Rates

When purchasing your car insurance, you may have noticed just how much rates can vary from one person to the next. In order to determine premiums, insurance companies use their own rating system, which looks at a number of different factors. These factors will ultimately help determine how much you pay for your car insurance.

How Your Age affects Auto Insurance Rates

Young and new drivers are far more likely to get into a car accident compared to mature drivers, due to their inexperience. Their lack of experience causes them to drive more recklessly, meaning they are more likely to speed, tailgate the car in front of them and are less likely to wear their seatbelt or realize when they are in a serious situation.

What this means is that drivers between the ages of 16 and 19 are three times more likely to be in a fatal car wreck than those over the age of 20, while those between the ages of 50 and 65 get into the fewest accidents and don’t put the strain on their Auto Insurance. When you look at the statistics, it should come as no surprise that a driver aged 16-19 tends to pay higher insurance premiums than those aged 50-65.

Your Vehicle and Auto Insurance

There are several factors related to the vehicle you own that will have an effect on your car insurance premiums. Generally, the less expensive your car is, the less expensive it is to insure. However, there are other factors that are taken into consideration when you’ll get Auto Insurance Coverage.

If your car is an unusual model, is more likely to get stolen or costs a great deal to repair, then these factors may cause your insurance premiums to go up. On the other hand, a newer car with better safety features can result in discounted premiums, since these may help to prevent accidents or mitigate damage and injuries if they do occur.

Your Driving Record

Statistics show that reckless drivers who violate motor vehicle laws are much more likely to cause an accident. For this reason, those drivers who have previously been involved in an accident or have a lot of tickets will likely face higher premiums.

In order to avoid paying more for your car insurance, drivers should do their best to drive safely and always follow motor vehicle laws. Avoiding accidents and tickets will help drivers to enjoy much lower rates, so work on improving your record over time if your current record is negatively affecting your premiums.

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Your Gender

Statistically, women are safer drivers than men. It is for this reason that men tend to pay thousands more on auto insurance over their lifetimes compared to women. Men are more likely to be involved in fatal car crashes, which is likely down to the fact that they are more likely to take risks while driving.

According to data collected by the National Highway Traffic Safety Administration (NHTSA), 73% of drivers in all fatal crashes in 2007 were male. Further data from 2011 showed that for those arrested in the U.S. for driving under the influence, 76% of the 765,000 people were men. These factors are taken into account when determining insurance premiums.

Lowering Your Rates

The good news is that there are several ways in which drivers can lower their rates, even if they are currently deemed to be a higher risk. These include things like changing cars, taking driving lessons and speaking to your agent to find out if you qualify for any discounts.
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